Scott Calls Out Biden Admin’s Role in Economic Crises on Fox Business

WASHINGTON – U.S. Senator Tim Scott (R-S.C.) joined Larry Kudlow on Fox Business to discuss the nation’s economic crises, from energy production to record-high inflation.

On the Biden administration’s claim that Putin is to blame for inflation … “Here’s what we know from the kitchen table economists, also known as moms around the country. They know without any question that before there was a conversation about Russia, their gas prices were up 60 percent. They know before there was ever a conversation about the genocide happening in Ukraine because of Russia, [they were] already seeing a double digit increase in [prices of] fish and meat and all types of food. … We’ve seen a crisis caused by President Biden’s decisions to literally cut off the Keystone XL pipeline, to stop permitting for oil research, and at the same time spend $2 trillion. It’s like pouring gas on a fire that’s already out of control.”

On the Democrats’ $1.5 trillion government spending package … “It’s hard to read 2,700 pages overnight. You get something at 1 a.m. or 2 a.m. in the morning, you wake up and you have 2,700 pages to read before you vote. Seriously? That’s a bad decision by itself. Adding a half a trillion dollars to our national debt? That’s adding even more fuel to the fire that we just talked about.

“And finally, and let’s say this, the Democrats’ leadership in the House has led to a 40-year high in inflation, and they’re still pouring more money on this crisis. That’s not good for moms making decisions at homes like the one I grew up in. I can’t imagine the type of crisis people are facing paycheck to paycheck, working paycheck to paycheck. And this administration thinks more spending, more debt, and more challenges is good news for the economy. [It’s] terrible news for moms like the one that raised me.”

On President Biden’s failure to lead and understand the free market … “Listen, we’ve had to drag this president into a position of leadership. It’s like we’re dragging a kid kicking and screaming into a positive position of leadership. And during the State of the Union, what does he say from that position of leadership? He literally says he wants to lower costs while increasing wages. … You don’t lower cost by raising wages. You lower costs by increasing your production so that have more on the bottom line. And with [those] extra resources, you can increase wages. You can look at benefits. But he doesn’t understand how the free market system actually works.

“I can’t imagine what he was thinking when he read from the teleprompter what someone else wrote. He should have stopped and said, ‘Wait a second. Let me just tell the American people the truth. I have no clue what I’m talking about when I look at this teleprompter. But here’s what I would say if I was just thinking on my own. I would say that in order for the American economy to continue to grow, we need people coming back to the workforce, not leaving the workforce. We have more jobs open than we have people looking for work. That’s called a problem. And how are we going to fix that problem? We’re going to fix that problem by making more incentives for people to come back to the workplace.’”